The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1887-01-12
DUN AND co.'s WEEKLY REPORT.
A Review of the Business of the Country
The Money Market-Priees, Etc.

NEW YORK Jan. 7-R G. Dun & Co. furnish the
following weekly review Of trade;
The new year opens with higher prices. Wheat
has advanced IL cents this week on sales OF
25,OO0, GOO bushels. Oil has advanced 1 cent on
sales of 10000, coo barrels. Cotton rises 1 lie
cents with moderate transactions. Coffee, iron
and silver are higher. Corn and oats have been
little weaker. and large realizing by foreigners
has checked the tendency to advance in stocks.
But the expansion of currency and Investment
of large dividends received ard profits realized
tend to lift prices for the present in spite Of fears
regarding legislation. Since August 1.the.Tre1sury
has added SD 497 OSs to the gold certificates out
standing and 500 $50 GIG to the silver certificates,
and about 81 100000 to the standard silver dollars
Bank circulation has decreased $40 O29 46I and the
legal.tenders not in the Treasury have diminished
over 5IS per cent, not counting the addition to
gold in circulation. Following expansion of
about $780, 600 since 1878, this makes the circu
lation per capita the largest ever recorded. 1t Is
now to be noticed that silver dollars begin to go
back TO the Treasury in place of small certificates
issued, and the Government during the past week
has taken in as much money as it has paid out, in
spite of the hsliyeary interest payments. Consul
tatIons at Washington make reduction Of the
revenue at this session improbable, and the ac-
emulation Of surplus threatens disturbance after
July j.
Over sCGO miles of railroad were built last year
only LOO in the Eastern and Southeastern States
and over 1906 miles in Kansas. Nebraska, Dakota,
Minnesota aud Texas. Hence the rise in iron.
Pitfsburg prices advanced 81 on Wednesday.
though the production now exceeds 100000 tons
every month. The associations official report
makes the output 1850 600 tons for the last half of
1ss6. This powerful impulse toward prosperity,
merchants fear, would be taken away If the inter
building. In business circles the apprehension
OF setback as a consequence OF high through
rates for Western products and an arrest of rail-
road building strongly influences calculations
for the future. The failure OF large cattle-rsis-
ing company illustrated a recent suggestion as to
the evils of overproduction and control of trans
portatiOn lines.
In the Southwest failures nave been unusually
numerous; In other sections not more than mi yht
be expected for the first week OF the year. Col
lections are generally satisfactory and the iucreas-
ing number OF buyers gives greater activity here
in the dry goods trade. Coal advances because of
an important strike of handlers. Boston ship
ments of boots and shoes for 1856 were 2.S75,Sl6
cases, against 267S S64 in 1885, Wool sales at Phil
rdelphia were 1900. 600 pounds less than in 1885,
but New York imports of foreign wool were
1s,9O00OO pounds larger. Higher prices here for
wheat and cotton also imply belief that produc-
ton will be curtailed next year as result OF IN
satisfactory returns to farmers.
Railroad earnings in December on twenty-one
roads exceeded those of 1855 about Is per cent,
and bank exchanges for the year show larger
transactions than ever. excepting in parts Of the
South. But railway foreclosures, as reported by
the Chicago Railway Age, exceeded in 1856 those
of any previous year, including fOrty-fye roads,
with s373, o00.O0O OF stocks and bonds.
The late decision of an Ohio court invalidating
the first mortgage on the Nickel-Plste Road is
used to excite distrust of foreign investors, ap-
| parcntIy with some effect. Foreign exchange
has advanced, and shipments OF gold hither are
suspended. But Colorado reports the output of
precious metals s., 29f,6S greater I'm 1886 than
| 1885.
The failures during the last seven days number
/ for the United states 271 for Canada. 2s; total,
| 2s9, against 27S last week and PCS the week
previous. The increase arises in the South. where
the failures exceptionally numerous. though
| not important.
Estimates for the year Of the production of pig.
iron are as follows: Charcoal iron, 413.129 gross
tonsS anthracite iron, ,s301l5; bituminous iron.
Ssgi 1875; total, 5,sSl61s gross TONS being little
more than 1900, 600 tons more than last year, an
| increase OF SO per cent.